Although asset prices are declining, TMP did increase slightly in value this month; up about $2K.
TMP is only up because the Realtor.com algorithm seems to lag the other algorithms by 3 – 6 months. Zillow and Redfin show house prices slightly down.
But all (other) assets are declining.
TMP is up by about one half per cent; all other assets are down by 3 to 6 per cent:
As usual, the market has it’s doom and gloom set; “Real home prices are going to fall, and it’s going to cause a massive negative wealth effect.”
Yes: “Housing Market Crash: Why Home Prices Will Fall 20% in 2023”
No: “But those hoping for prices to drop probably won’t catch a break anytime soon.”
Our houses look like this:
You can see the slight decreases in the Redfin and Zillow estimates.
But Realtor shows $5K – $8K increases. So, we are up slightly. We expect that all will show declines in the coming months.
But Jim and Jeff are happy that the market is returning to a more normal state. The market condition for the past 2 – 3 years is not sustainable. We plan to evaluate our positions and decide our next steps. Maybe sell one or more properties and buy duplexes, triplexes, fourplexes?
In the meantime, we went to Boise, ID to visit my sister, brother-in-law, daughter, and boyfriend. Things were definitely looking up at the zoo:
